DALLAS, August 14, 2000 (PRIMEZONE) -- Basic Capital Management, Inc. announced Monday that it has named Mark W. Branigan as Executive Vice President and Chief Financial Officer. Branigan, 46, replaces Thomas A. Holland, who resigned the position effective August 9, 2000. Holland stated he had resigned to devote his full energy to the start-up of a family-owned business located in Dallas.
Branigan, who was promoted from within Basic Capital, also will serve as executive vice president and chief financial officer for the three public companies advised by BCM - American Realty Investors, Inc. (NYSE:ARL), Transcontinental Realty Investors, Inc. (NYSE:TCI) and Income Opportunity Realty Investors, Inc. (AMEX:IOT). He most recently served as vice president and director of construction in charge of new development for BCM. Previously he was a freelance consultant to real estate related companies throughout the United States and prior to consulting, was executive vice president of residential management for BCM.
Holland had served as BCM's CFO since 1995 and as chief accounting officer from 1990 to 1995. He also served as executive vice president and chief financial officer for the three public real estate entities it advises.
"While we deeply regret the loss of Tom's aid and counsel, we certainly understand his choice of beginning a new career as a business owner and wish him the best in his new endeavor," said Karl L. Blaha, president of Basic Capital Management, Inc. "At the same time, we are proud to have someone of Mark Branigan's caliber on hand to step into the position," added Blaha.
Basic Capital Management, Inc. is a Dallas-based real estate advisory company that manages a diverse portfolio of properties located across the United States, as well as interests in mortgage loans. For more information on the companies, go to the web site at www.bcm-inc.com .